Weekly · World Stock PushShares of BRP Inc. were among the top gainers on the S&P/TSX composite index the week of Aug. 31 to Sept. 4. BRP Inc. (DOO:TSX), a Sea-Doo and Ski-Doo maker, reported earnings that beat estimates on a smaller than expected loss per share, driven by strong sales of its utility off-road vehicle (ORV). The company updated guidance for 2027, noting a smaller than expected hit from changes to Section 232 U.S. tariffs on steel, aluminum, and copper.
New models introduced by BRP are not subject to tariffs, while all-terrain vehicle tariffs have dropped from 25% to 15%. BMO Capital Markets analyst Tristan Thomas-Martin raised his price target for BRP to $110 from $100, citing strong ORV share capture and a lineup of well-received new products. RBC Capital Markets analyst Sabahat Khan set the highest price target at $113, implying a potential 21% gain from Friday’s close.
RBC added four new TSX stocks to its market-weighted portfolio: Canadian Natural Resources Ltd. (CNQ:TSX), Nutrien Ltd. (NTR:TSX), Ovintiv Inc. (OVV:TSX), and Whitecap Resources Inc. (WCP:TSX). National Bank of Canada noted the TSX’s lower exposure to artificial intelligence (AI) debt, which is vulnerable to rising bond yields, and highlighted de-escalation on the trade front as key to continued TSX performance. The TSX reached a fresh record in August, up 28.7% this year.
RBC’s market-weighted portfolio returned 4.3% over the past three months, while the TSX returned 4.9%.
Source: Financial Post
